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Upcoming IPOs: 5 SME issues to subscribe this week
25 Jan 2026

The primary market is set for a quiet period ahead of the Union Budget 2026, with no mainboard initial public offerings (IPOs) scheduled.

However, five new small and medium enterprises (SMEs) will open for subscription in the coming week.

Along with these new SME IPOs, Shadowfax Technologies's IPO listing will also take place in the mainboard segment on January 28.

Shadowfax Technologies's IPO and SME listings
Subscription

Shadowfax Technologies's IPO was oversubscribed by 2.86 times on the last day of bidding, with qualified institutional buyers (QIBs) subscribing 3.81 times.

In the SME segment, Shayona Engineering and Hannah Joseph Hospital will make their stock market debuts on January 30.

The upcoming week will also see Kasturi Metal Composite and Kanishk Aluminium India opening for subscription on January 27 and January 28, respectively.

Msafe Equipments and Accretion Nutraveda IPOs will open on January 28.

Details of upcoming SME IPOs
Specifics

The Kasturi Metal Composite IPO is a book-built issue worth ₹17.61 crore, entirely comprising a fresh issue of 0.28 crore shares.

The price band for this SME IPO has been fixed at ₹61 to ₹64 per share.

Kanishk Aluminium India's IPO is a fixed-price offering worth ₹29.20 crore, also entirely comprising a fresh issue of 0.40 crore equity shares with the price fixed at ₹73 per share.

Msafe Equipments and Accretion Nutraveda
Upcoming listings

The Msafe Equipments IPO is a book-built issue sized at ₹66.42 crore, comprising a fresh issue of 0.44 crore shares worth ₹54.12 crore, and an offer for sale of 0.10 crore shares amounting to ₹12.30 crore.

Price band is set at ₹116-₹123 per share.

Accretion Nutraveda's IPO will open for subscription on January 28 with a book-built issue of ₹24.77 crore, entirely comprising a fresh issue of 0.19 crore shares priced between ₹122 and ₹129 each.

CKK Retail Mart's IPO
Final IPO

CKK Retail Mart's IPO will open for subscription on January 30 with a book build issue of ₹88.02 crore.

It comprises a fresh issue of 0.44 crore shares aggregating to ₹71.85 crore and offer for sale of 0.10 crore shares aggregating to ₹16.17 crore priced between ₹155 and ₹163 per share.